Fall Final Exam Review

____ is a skill an entrep. can use to further their goals. Examples: get to know people in the local business comm.

The trait __________, gives an entrepreneur the willingness to take risks despite possible losses.

Financial ruin is one of the greatest risks of entrepreneurship. *Hint-think in tems of most entrepreneurs

A __________ __________ is a report that outlines your marketing strategy for the coming year, quarter, or month.

The Final is due:

What are the two main types of entrepreneurs? (According to our OLS)

The basic purpose of a business plan is to define goals of the new business, how to achieve them, and attract investors.

Homeowners in older neighborhoods would fall under the demographic segmentation method.

This P should include all the parts that make up your overall cost, including the advertised price, any discounts, etc.

Company XYZ plans to increase the rate of client referrals by 11% in the next year. This is an example of a SMART goal.

The trait ______________, allows an entrepreneur to see or approach new ideas or conflicts in ways others do not.

A zero will be entered in the gradebook if you have not completed your final by December 6th at 8:00AM

Which of the following is NOT a reason to buy a franchise instad of starting a business of your own?

Starting a business you may not know who your target market is. Learning about consumers and product trends is a ____.

You learn that you lack knowledge about business accounting. What should you do out of the following choices?

If you identify how much you would like your sales to grow over a given period of time; you have created a goal tied to:

Attending or participating in an industry-specific ___ is a great way to share information with others in your industry.

The key components of a value proposition include who you are, waht you do, and ________.

The focus on current products and current markets in order to increase market share is known as:

Patience in the face of ambiguity or when success is elusive is a valuable trait for an entrepreneur.

How many attemps do you get on the final?

Entrepreneurs use a feasibility study to see if their ideas are doable. this is the assessment of the __ of a plan.

Target market is the process of identifying the group of potential customers for your product or services.

A form of communication between businesses and customers which relays a message promoting services and/or good is:

The practice of gathering information about a consumers' needs and preferences is known as:

As far as segmentation methods in regards to your customers, which one is tied to what a person will or will not do?

What are the 5 P's of marketing?

Not being able to meet new people and no control over your schedule are risks entrepreneurs routinely take.

The Final is worth 100 points

An Entrepreneur is a person who starts his or her own business instead of working for someone else.

A __ entrepreneur is someone who might lead nature appreciation tours, or start a theater program for at risk youth.

Dave is posting daily progress pictures of the deck he's building for a client to his social media. What is he doing?

You learn that you have a very low risk tolerance. With this knowledge, which business approach would be best for you?

Developing your brand message is a process. The process begins with:

The goal of market research is to determine whether there is a demand for your product or service.

Ethnicity, age/generation, gender, income, marital status, education, and homeownership are all examples of: